Monday 8/7/2023

critical darkpool levels regained

Darkpool 101

If you trade megacaps frequently, it’s a good idea to draw important levels on individual charts just like I do in the newsletter for SPY & QQQ. Look at how levels from last September still work today. If you think the darkpools are doing something high tech, this chart pretty much tells you otherwise. The boys at mission control do the same thing over and over again. When you watch them as long as I have, you learn some of their tricks and where to look for clues.

TSLA Chart

Intro

Friday

SPY new level at 446.77, bearish under 449.33.

QQQ watch 373.90. Bearish. Realtime closing trades will probably roll in on Monday (sneaky).

Macro trend selling.

Realtime prints high volume AMZN, AAPL, AMD. Megacaps are in the red. Bearish.

Close prints neutral.

Indexes are under critical darkpool support, which is a bearish development. I would recommend bulls wait until levels are regained. Bears are in charge until then.

Monday

SPY regained 449 levels today.

SPY PRINTS

Not much volume. For bulls, it would be nicer to see them buying the lows. This is not buying the lows.